ARTICLE · 17 DECEMBER 2008

NZ Funds Management And Superannuation Update

DLA Piper Australia

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The much heralded changes to the KiwiSaver regime were passed into law on 11 December 2008.

AustraliaStrategy

Alasdair McBeth

Matthew Harper

Disclaimer: The Taxation (Urgent Measures and Annual Rates) Act 2008 is not yet available and therefore the information in this Update is based on the assumption that the Taxation (Urgent Measures and Annual Rates) Bill passed significantly unchanged. We will inform you if this is not the case.

KIWISAVER CHANGES PASSED INTO LAW

The much heralded changes to the KiwiSaver regime were passed into law on 11 December 2008.

YOU NEED TO ACT NOW

If you are a KiwiSaver provider, you need to get cracking to ensure your prospectus, investment statement and advertising materials comply with securities law before 14 February 2009. This is because 14 February 2009 is the day that the limited exemption from securities law compliance (where there is a non-compliance because of the KiwiSaver changes) will expire.

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